The General Reserve Fund of Oman and the Djiboutian Free Zones and Free Zones Authority signed a strategic cooperation agreement to develop Djibouti ports.
Under the agreement, the Sultanate of Oman will invest in, operate and operate Djibouti's ports. In the context of an official visit to the Executive Chairman of the General Reserve Fund of the Sultanate to Djibouti came in the context of steps to expand the Omani presence in the Horn of Africa.
The official talks of the Omani delegation with senior Djiboutian officials, led by President Amir Geely, included enhancing cooperation, especially in the field of ports and maritime navigation.
The two sides also signed a memorandum of cooperation to develop the ports of Djibouti and its important facilities, including the port of Durali Container, one of the most important container ports in the Horn of Africa, where Djibouti canceled last year the concession was granted to DP World, Oman to enter a new competitor in the region that raged Where the competition on the Djibouti ports.
Observers believe that the Sultanate of Oman took this step due to the impact of the Yemen war and the Gulf crisis and the UAE's attempt to acquire Red Sea ports for geopolitical purposes. The agreement for Djibouti is an important step in enhancing the confidence of its partners and attracting more investments to achieve its goal of making its ports One of the most important trading platforms in East Africa.